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Medicenna Announces Trading on the OTCQX Best Market in the United States

TORONTO and HOUSTON, TX, Oct. 18, 2017 /CNW/ - Medicenna Therapeutics Corp. ("Medicenna" or the "Company") (TSX: MDNA; OTCQX: MDNAF), a clinical stage immuno-oncology company, is pleased to announce that the Company has received approval to commence trading on the OTCQX Best Market, under the symbol, "MDNAF". The Company's shares continue to trade on the Toronto Stock Exchange ("TSX") under the symbol "MDNA".

OTCQX is an established market for global and growth companies with high financial standards. Investors can find current financial disclosure and Real-Time Level 2 quotes for Medicenna at www.otcmarkets.com.

"We are very pleased to be trading on the OTCQX as it will improve the Company's ability to attract a wider audience of investors from both inside and outside the United States. This corporate milestone will provide additional visibility within the investment community enabling us to build awareness more broadly and expand our current shareholder base in order to drive shareholder value", said Elizabeth Williams, Chief Financial Officer of Medicenna.

"Medicenna Therapeutics joins an impressive roster of Canadian companies, including more than 25 added this year, that cross-trade their shares on the OTCQX market to maximize their reach to U.S. investors. Trading on OTCQX will enable Medicenna to efficiently broaden accessibility to their news and financial disclosure and build visibility among U.S. investors," said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group.

Medicenna Therapeutics was sponsored for OTCQX by Burns Figa & Will PC, a qualified third-party firm responsible for providing guidance on OTCQX requirements and recommending membership.

About Medicenna Therapeutics Corp. Medicenna is a clinical stage immuno-oncology company developing novel highly selective versions of IL-2, IL-4 and IL-13 Superkines™ and first in class Empowered Cytokines™ (ECs). Its wholly owned subsidiary, Houston-based Medicenna BioPharma, is specifically targeting the Interleukin-4 Receptor (IL4R), which is over-expressed by at least 20 different types of cancer affecting more than one million new cancer patients every year. Medicenna's lead IL4-EC, MDNA55 is enrolling patients in a CPRIT (Cancer Prevention and Research Institute of Texas) funded Phase 2b clinical trial for recurrent glioblastoma (rGBM) at leading brain cancer centres in the US. MDNA55 has completed 3 clinical trials in 72 patients, including 66 adults with rGBM, demonstrated compelling efficacy and obtained Fast-Track and Orphan Drug status from USFDA. Unlike most other cancer therapies, Medicenna's IL4-ECs have the potential to purge both the tumor and the immunosuppressive tumor microenvironment, offering a unique treatment paradigm for a large majority of cancer patients.

About OTC Markets Group Inc.OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market, and the Pink® Open Market for 10,000 U.S. and global securities. Through OTC Link® ATS, OTC Markets connects a diverse network of broker-dealers that provide liquidity and execution services. The company enables investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.

To learn more about how OTC Markets creates better informed and more efficient markets, visit www.otcmarkets.comOTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the ability of the company to add new shareholders, increase shareholder value, future plans and objectives of the Company and others are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the risks detailed in the annual information form of the Company dated June 15, 2017 and in other filings made by the Company with the applicable securities regulators from time to time.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by Canadian securities law.